Redeveloping derelict and underused historic city areas: evidence from a survey of real estate developers
AbstractAre economic incentives and regulatory relief useful tools for encouraging reuse of abandoned or under-utilised urban sites with historic buildings? Answering this question is of key importance for many European cities and for older US cities, and has important implications in terms of urban sustainability and “smart growth” initiatives. This study uses conjoint choice experiments to explore the relative importance of economic incentives, regulatory relief, land use and property regime offerings at under-utilised historic sites in Venice, Italy. Real estate developers and investors were surveyed, and asked to choose between pairs of hypothetical projects in three Venice locations, as well as between one of these projects and the alternative to do a development project elsewhere. Statistical models of the responses to these choice questions indicate that respondents were sensitive to the price of acquiring the land (and hence to any policies that influence prices), and particularly sensitive to the property regime that would be granted to developers and investors and to the allowable land use. It is concluded that the city should focus on offering land uses and property regimes that are more in tune with developer demand.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Journal of Environmental Planning and Management.
Volume (Year): 53 (2010)
Issue (Month): 2 ()
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Other versions of this item:
- Paolo Rosato & Anna Alberini & Valentina Zanatta & Margaretha Breil, 2009. "Redeveloping Derelict and Underused Historical City Areas: Evidence from a Survey of Real Estate Developers," Working Papers 2009_02, Department of Economics, University of Venice "Ca' Foscari".
- Paolo Rosato & Anna Alberini & Valentina Zanatta & Margaretha Breil, 2008. "Redeveloping Derelict and Underused Historic City Areas: Evidence from a Survey of Real Estate Developers," Working Papers 2008.60, Fondazione Eni Enrico Mattei.
- Z1 - Other Special Topics - - Cultural Economics
- R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations
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